Accolade, Inc. (NASDAQ:ACCD) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of Accolade, Inc. (NASDAQ:ACCD) have been given a consensus rating of “Moderate Buy” by the fourteen ratings firms that are currently covering the stock, MarketBeat.com reports. Three analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $8.96.

A number of analysts have recently weighed in on the stock. Wells Fargo & Company cut their price objective on shares of Accolade from $7.00 to $6.00 and set an “equal weight” rating on the stock in a research note on Friday, October 11th. Canaccord Genuity Group cut their price target on Accolade from $13.00 to $7.00 and set a “buy” rating on the stock in a research report on Wednesday, October 9th. Needham & Company LLC reissued a “buy” rating and issued a $8.00 price objective on shares of Accolade in a report on Monday, October 7th. Stephens dropped their target price on Accolade from $10.00 to $8.00 and set an “overweight” rating on the stock in a report on Wednesday, October 9th. Finally, Morgan Stanley decreased their price target on Accolade from $6.00 to $5.00 and set an “equal weight” rating for the company in a report on Tuesday.

Accolade Stock Performance

Shares of ACCD opened at $3.48 on Friday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 2.72 and a current ratio of 2.72. The stock has a 50-day moving average of $3.51 and a two-hundred day moving average of $4.08. The stock has a market cap of $280.27 million, a P/E ratio of -3.38 and a beta of 2.07. Accolade has a one year low of $3.08 and a one year high of $15.36.

Accolade (NASDAQ:ACCD) last released its earnings results on Tuesday, October 8th. The company reported ($0.30) EPS for the quarter, topping analysts’ consensus estimates of ($0.44) by $0.14. Accolade had a negative return on equity of 18.43% and a negative net margin of 18.16%. The firm had revenue of $106.40 million during the quarter, compared to the consensus estimate of $104.87 million. During the same quarter in the previous year, the company posted ($0.43) earnings per share. The company’s revenue was up 9.8% compared to the same quarter last year. As a group, research analysts predict that Accolade will post -0.92 EPS for the current year.

Insider Buying and Selling at Accolade

In other Accolade news, CEO Rajeev Singh sold 13,357 shares of the business’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $3.60, for a total transaction of $48,085.20. Following the completion of the sale, the chief executive officer now directly owns 814,316 shares in the company, valued at approximately $2,931,537.60. The trade was a 1.61 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold a total of 42,095 shares of company stock valued at $150,475 over the last ninety days. Corporate insiders own 8.20% of the company’s stock.

Institutional Trading of Accolade

Large investors have recently made changes to their positions in the company. Mission Creek Capital Partners Inc. purchased a new position in Accolade in the 3rd quarter valued at $38,000. SG Americas Securities LLC acquired a new stake in shares of Accolade in the second quarter valued at about $43,000. IQ EQ FUND MANAGEMENT IRELAND Ltd purchased a new position in shares of Accolade in the third quarter worth about $46,000. Wolverine Trading LLC acquired a new position in Accolade during the third quarter worth about $51,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Accolade by 22.8% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 20,373 shares of the company’s stock worth $73,000 after acquiring an additional 3,789 shares during the last quarter. 84.99% of the stock is currently owned by hedge funds and other institutional investors.

About Accolade

Accolade, Inc, together with its subsidiaries, engages in the development and provision of personalized and technology-enabled solutions that help people to understand, navigate, and utilize the healthcare system and their workplace benefits in the United States. The company offers a platform with cloud-based intelligent technology and multimodal support from a team of advocates and clinicians, including registered nurses, physician medical directors, pharmacists, behavioral health specialists, women’s health specialists, case management specialists, expert medical opinion providers, and primary care physicians.